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Actionable news in CZR: Caesars Entertainment Corporation,

Caesars Hires Two Executives to Lead Expansion Beyond Gambling

  • Developers want Caesars brand for non-casino hotels: CEO
  • Bankruptcy process expected to be complete by September

Caesars Entertainment Corp. hired two executives to help expand beyond gambling, including licensing the Caesars and Harrah’s brands to hotels that may not feature casinos.

As Caesars’ biggest division emerges from bankruptcy protection, a number of potential investors have expressed interest in building resorts flying the company’s flags, in the U.S. and abroad, Chief Executive Officer Mark Frissora said in an interview. Caesars’ customer loyalty program, with some 50 million members, is an attractive asset that lodging operators could use to market their properties, he said.

“There’s a lot of good money out there, developers that would love to have these brands, because they’re unique in the marketplace,” he said.

Marco Roca, a veteran of Wyndham Worldwide Corp. and Starwood Hotels & Resorts, will join Caesars as president of global development, the company said in a statement Thursday. Michael Daly, who worked for 15 years at General Electric Co., will serve as senior vice president for strategy and mergers and acquisitions.

With revenue in the $38.5 billion casino industry climbing only modestly in the U.S., many operators are looking beyond gambling to spur growth, building sports and...